Comerica Bank grew its holdings in Lakeland Financial Corporation (NASDAQ:LKFN) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,116 shares of the financial services provider’s stock after buying an additional 16 shares during the period. Comerica Bank’s holdings in Lakeland Financial Corporation were worth $550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Lakeland Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock valued at $45,519,000 after buying an additional 35,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lakeland Financial Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after buying an additional 28,198 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Lakeland Financial Corporation by 0.8% in the first quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock valued at $39,323,000 after buying an additional 7,209 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Lakeland Financial Corporation by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock valued at $34,766,000 after buying an additional 89,271 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC lifted its position in shares of Lakeland Financial Corporation by 2.7% in the first quarter. Columbia Wanger Asset Management LLC now owns 583,598 shares of the financial services provider’s stock valued at $25,165,000 after buying an additional 15,506 shares during the last quarter. 69.31% of the stock is owned by institutional investors.

Lakeland Financial Corporation (NASDAQ:LKFN) opened at 46.26 on Monday. The stock’s 50 day moving average price is $44.26 and its 200-day moving average price is $44.55. Lakeland Financial Corporation has a 52 week low of $33.98 and a 52 week high of $48.88. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 22.57 and a beta of 0.84.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. The business had revenue of $42.61 million for the quarter, compared to the consensus estimate of $41.86 million. On average, equities research analysts forecast that Lakeland Financial Corporation will post $2.37 earnings per share for the current fiscal year.

In other Lakeland Financial Corporation news, Director M Scott Welch bought 5,557 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $41.83 per share, with a total value of $232,449.31. Following the acquisition, the director now directly owns 112,148 shares of the company’s stock, valued at approximately $4,691,150.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric H. Ottinger sold 1,899 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total transaction of $87,885.72. Following the sale, the insider now directly owns 21,500 shares in the company, valued at approximately $995,020. The disclosure for this sale can be found here. In the last three months, insiders have acquired 10,613 shares of company stock worth $447,131 and have sold 3,149 shares worth $142,334. Insiders own 5.00% of the company’s stock.

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub cut Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.00.

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Lakeland Financial Corporation Company Profile

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

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Institutional Ownership by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

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